Chief Executive Officer Torbjörn Bjerke rings the bell at at listing ceremony.

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Stockholm-based Karolinska Development manages one of the largest portfolios of life science companies in Europe. Now it plans to speed up its commercialization by issuing a new share offering and floating the company on the Stockholm stock exchange.

The investment company, which is part of the Karolinska Institute’s innovation drive, raised around 608 million kronor ($93 million), before subtracting the issue costs, when it was floated at April 15.

Karolinska Development is in pole position to get its hands on exciting life science startups and pharmaceutical innovations, thanks to an agreement with Karolinska Institutet Innovations.

Chief Executive Officer Torbjörn Bjerke said the company is ready to ramp up its commercial performance.

“It is now time for us to demonstrate the business model at its full potential by, to an even higher degree, focusing on those projects that currently have the best possibility to reach the market,” he said.

The company’s portfolio of investments currently comprises some 40 projects; twelve in clinical phase, with six in phase II. It is looking for capital to reach commercialisation for these projects and to extend its investment horizon.

“From a commercial perspective, Karolinska Development is currently in a very advantageous position," Torbjörn Bjerke said. "With twelve projects in clinical phase, we have now reached a point where we can initiate serious discussions regarding divestment or licensing.”

In 2010, Karolinska Development posted a loss of 334 million kronor, of which 226 million consisted of write-downs and liquidations. Its goal is to see a positive cash flow by 2013, the prospectus said.